U.S. Bank PowerTrack widens government coverage with GSA contract

U.S. Bank PowerTrack widens government coverage with GSA contract    The U.S. General Services Administration has awarded U.S. Bank Corporate Payment Systems a contract to electronically manage payments for its Federal Supply Schedule Schedules Contract list.
   The GSA list allows federal agencies to acquire more than 4 million products and services directly from about 8,600 approved commercial suppliers. U.S. Bank’s PowerTrack will provide the electronic business-to-business payment platform for the GSA list.
      The Minneapolis-based bank began developing PowerTrack six years ago. In 1998, the Defense Department used PowerTrack to replace its cumbersome paper government bills of lading with a commercial bill of lading structure. Today, more than 800 carriers participate in the system, saving the Defense Department millions of dollars a year in administrative costs.
   U.S. Bank is also working with other agencies, such as the U.S. Agency for International Development and the Homeland Security and State Departments, to implement PowerTrack.